DVL: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
DVL
Largest movements
- Receivables within one year +€14,487
up €14,487 (+10212.7%), from €142 to €14,629
of which Trade receivables: +€10,420
- Cash -€13,284
down €13,284 (-62.8%), from €21,143 to €7,858
mainly Receivables within one year (-€14,487) and Debts after one year (-€14,390)
- Tangible fixed assets -€2,935
down €2,935 (-5.3%), from €55,609 to €52,674
of which Land and buildings: -€1,996
- Debts after one year -€14,390
down €14,390 (-44.8%), from €32,126 to €17,736
- Reserves +€14,211
up €14,211 (+9.0%), from €157,756 to €171,968
- Current portion of long-term debt -€2,936
down €2,936 (-16.9%), from €17,326 to €14,390
- Other debts +€2,783
up €2,783 (+399.9%), from €696 to €3,479
- Write-downs -€3,149
no longer reported in 2025 (was €3,149)
- Gross operating margin -€1,911
down €1,911 (-7.4%), from €25,941 to €24,030
- Financial income +€561
up €561 (+57.0%), from €986 to €1,547
- Financial charges -€484
down €484 (-22.9%), from €2,113 to €1,629
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €235,838 | €235,408 | -€429 | -0.2% |
| Fixed assets | 21/28 | €55,609 | €52,674 | -€2,935 | -5.3% |
| Tangible fixed assets | 22/27 | €55,609 | €52,674 | -€2,935 | -5.3% |
| Land and buildings | 22 | €48,579 | €46,583 | -€1,996 | -4.1% |
| Plant, machinery and equipment | 23 | €282 | €117 | -€165 | -58.5% |
| Furniture and vehicles | 24 | €6,748 | €5,974 | -€774 | -11.5% |
| Current assets | 29/58 | €180,228 | €182,734 | +€2,506 | +1.4% |
| Amounts receivable within one year | 40/41 | €142 | €14,629 | +€14,487 | +10212.7% |
| Trade receivables | 40 | - | €10,420 | +€10,420 | |
| Other amounts receivable | 41 | €142 | €4,209 | +€4,067 | +2867.1% |
| Current investments | 50/53 | €157,613 | €158,604 | +€990 | +0.6% |
| Cash at bank and in hand | 54/58 | €21,143 | €7,858 | -€13,284 | -62.8% |
| Deferred charges and accrued income | 490/1 | €1,330 | €1,644 | +€313 | +23.5% |
| Total equity and liabilities | 10/49 | €235,838 | €235,408 | -€429 | -0.2% |
| Equity | 10/15 | €176,356 | €190,568 | +€14,211 | +8.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €157,756 | €171,968 | +€14,211 | +9.0% |
| Distributable reserves | 133 | €157,756 | €171,968 | +€14,211 | +9.0% |
| Amounts payable | 17/49 | €59,481 | €44,841 | -€14,641 | -24.6% |
| Amounts payable after more than one year | 17 | €32,126 | €17,736 | -€14,390 | -44.8% |
| Financial debts | 170/4 | €32,126 | €17,736 | -€14,390 | -44.8% |
| Amounts payable within one year | 42/48 | €25,190 | €24,818 | -€372 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | €17,326 | €14,390 | -€2,936 | -16.9% |
| Trade debts | 44 | €2,314 | €2,086 | -€228 | -9.9% |
| Suppliers | 440/4 | €2,314 | €2,086 | -€228 | -9.9% |
| Taxes, remuneration and social security | 45 | €4,854 | €4,863 | +€9 | +0.2% |
| Taxes | 450/3 | €4,854 | €4,863 | +€9 | +0.2% |
| Other amounts payable | 47/48 | €696 | €3,479 | +€2,783 | +399.9% |
| Accrued charges and deferred income | 492/3 | €2,166 | €2,287 | +€121 | +5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,935 | €2,935 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,149 | - | -€3,149 | |
| Other operating charges | 640/8 | €668 | €689 | +€21 | +3.2% |
| Gross operating margin | 9900 | €25,941 | €24,030 | -€1,911 | -7.4% |
| Operating profit (loss) | 9901 | €19,189 | €20,406 | +€1,216 | +6.3% |
| Financial income | 75/76B | €986 | €1,547 | +€561 | +57.0% |
| Recurring financial income | 75 | €986 | €1,547 | +€561 | +57.0% |
| Financial charges | 65/66B | €2,113 | €1,629 | -€484 | -22.9% |
| Recurring financial charges | 65 | €2,113 | €1,629 | -€484 | -22.9% |
| Profit (loss) for the period before taxes | 9903 | €18,062 | €20,323 | +€2,261 | +12.5% |
| Income taxes | 67/77 | €6,180 | €6,112 | -€68 | -1.1% |
| Profit (loss) for the period | 9904 | €11,882 | €14,211 | +€2,329 | +19.6% |
| Profit (loss) for the period to be appropriated | 9905 | €11,882 | €14,211 | +€2,329 | +19.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.